Short Interest in iShares U.S. Financial Services ETF (NYSEARCA:IYG) Declines By 42.9%

iShares U.S. Financial Services ETF (NYSEARCA:IYG) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 48,940 shares, a drop of 42.9% from the August 15th total of 85,731 shares. Based on an average trading volume of 78,355 shares, the short-interest ratio is currently 0.6 days. Approximately 0.2% of the shares of the company are short sold.

iShares U.S. Financial Services ETF Trading Down 0.1%

Shares of NYSEARCA IYG traded down $0.06 during mid-day trading on Thursday, hitting $93.68. The company had a trading volume of 67,810 shares, compared to its average volume of 111,853. iShares U.S. Financial Services ETF has a 1 year low of $79.86 and a 1 year high of $98.66. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of 18.95 and a beta of 0.96. The stock’s 50-day moving average price is $96.25 and its 200-day moving average price is $90.20.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in IYG. Dynasty Wealth Management LLC bought a new position in iShares U.S. Financial Services ETF during the fourth quarter valued at approximately $49,084,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of iShares U.S. Financial Services ETF by 279.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 111,441 shares of the company’s stock worth $10,280,000 after acquiring an additional 82,102 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of iShares U.S. Financial Services ETF by 17.0% in the 1st quarter. Private Advisor Group LLC now owns 208,916 shares of the company’s stock worth $17,307,000 after acquiring an additional 30,308 shares during the last quarter. Forte Asset Management LLC purchased a new stake in shares of iShares U.S. Financial Services ETF in the 1st quarter valued at $2,371,000. Finally, Fifth Third Bancorp purchased a new stake in shares of iShares U.S. Financial Services ETF in the 1st quarter valued at $1,651,000.

About iShares U.S. Financial Services ETF

iShares U.S. Financial Services ETF (the Fund) is an exchange-traded fund. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the Dow Jones U.S. Financial Services Index (the Underlying Index). The Underlying Index measures the performance of the financial services sector of the United States equity market. It is a subset of the Dow Jones U.S. Financials Index. The Underlying Index includes components of subsectors in the Dow Jones U.S.